Sprint Dips After FCC Delays Merger With T

Alberta Rodriguez |Friday, September 14, 2018

FCC pauses 180-day shot clock on its review of T-Mobile-Sprint merger

The third- and fourth-largest wireless USA service providers submitted their Public Interest Statement to the FCC in June, but the commission has now said it is pausing the informal 180-day "transaction shot clock", which is currently at day 56, following recent submissions related to a revised network engineering model.

T-Mobile, the fastest-growing of the four major USA wireless companies thanks to low prices and features such as free video, needs approval from the FCC and Justice Department for the Sprint deal.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. The FCC points to three separate developments that require more time for review.

The FCC said Tuesday it was pausing the review clock - now at Day 55 - because the two companies had submitted new information including a "substantially revised" network engineering model, a new business model and additional economic modeling.

This includes additional information about a business model and a "substantially revised network engineering model". Moreover, the Applicants asserted that this is now the "engineering model on which they rely in support of this transaction". The FCC called it "significantly larger and more complex than the engineering submissions already in the record".

Today we are pausing the Commission's informal 180-day transaction shot clock in this proceeding. He says it appears to incorporate new logic, methodologies, facts, and assumptions, something that can't be reviewed quickly. The commission said it only received information pertaining to Build 9 on September 5. Seems fair enough. "The clock will remain stopped until the Applicants have completed the record on which they intend to rely and a reasonable period of time has passed for staff and third-party review", concludes the letter. Build 9 therefore requires further review.

The FCC is also awaiting the submission of "additional economic modeling" supporting the merger from T-Mobile. The commission will then decide if the deadline needs to be extended.

Popular news

Apple 2018 Event Recap: iPhone Xs, Xs Max, Xr, Apple Watch
The base level iPhone is now the iPhone 7 with a 4.7-inch display, A10 Fusion chip, water proofing and stereo speaker setup. Luckily, if you owned a previous iPhone that came with a wired dongle, you can still use that with the new Apple handsets.

Texas prepares as tropical disturbance nears the Gulf
The United States is already bracing for Hurricane Florence, a major Category 4 hurricane expected to make landfall on the U.S. A tropical wave could strengthen as it churns through the Gulf of Mexico today, forecasters said.

ISS images show massive Hurricane Florence from 400 km up
The massive storm is larger than North Carolina and South Carolina - combined, according to South Carolina Emergency Management. The effects of Hurricane Florence can already be felt along the coast of North Carolina as of 12 p.m. on September 13.

32 killed, 128 injured in attack on protesters
The wounded were cared for in the corridors, the more seriously ill were transported to the central hospital in Jalalabad . The provincial governor's spokesman , Attahullah Khogyani, made a statement with a revised casualty total on Wednesday.

Nintendo Switch Online service launches September 18
Individual membership is separated into three tiers: $3.99 for one month; $7.99 for three months and $19.99 for 12 months. The much anticipated online gaming service for the popular Nintendo Switch has a start date: September 18.

Battery power grows in Apple iPhone XS and XS Max
If you want to connect your wired headphones to your shiny new iPhone, you'll now need to pay £9 for a headphone adapter. Because of its bigger display size, the pixel density is lower at 326ppi which is on par with the regular iPhone 8 .